The Phaserl


Gold Moves Higher On Iraq And Weaker Dollar

from Gold Core:

Gold bullion is trading at a 3 month high, as investors warm to the precious metal again. Doubts over the U.S. economy’s growth prospects persists with the USD index of currencies trading at a seven week low.

Recent Iraqi conflict is adding to apprehension that that country is again destabilising. Western powers seem reluctant or unable to intervene. Now with the news that the insurgents have announced the creation of a Caliph, it would seem that they are consolidating gains and formalising control.

This creates uncertainty as it adds a new and potentially dangerous dimension to the cauldron of instability that is the Middle East. As always it comes down to resources and who controls them.

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